Challenging, but overall worthwhile
It's hard to enjoy without some time commitment, but Glomp offers some pretty unique challenges offered by random item placement and availability of what you have on hand. For that matter, I had to come up with some interesting ways of keeping my items. Towards the beginning I had item hordes in the far West and East chests, and eventually I got into the habit of bringing an item of some importance as well as the sword with me, ferrying them both across each screen to ward off the dragons when they became too difficult to bypass. Good thing I did, too--the blue one caught up with me just before the last big challenge. I found a practical way of getting items up into the cloud area, and was pleased with your design when it worked. The tubes, risky though they were, came to good use as shortcuts from the respawn point and elsewhere to help with travel.
I feel like I got lucky on the full playthrough with item placement, but some specific areas and items seem impossible to get through or retrieve without one of the three magical, convenient items, about which I hope you know I mean. After bypassing the most pertinent of them, I really couldn't think of another method to do so. Speaking of luck, the bat hardly gave me any trouble; he was preoccupied with what I guessed was another misleading bauble
There were a couple of harrowing experiences, mostly with the darkened mazes. Given that there were many items I couldn't find a use for (I had a theory about the gems but not the time or luck to test it), a lantern might have been helpful at those times.
Many of the other items, sadly, never left their starting places. I didn't have a lot of time or ideas to experiment with them, so if I try to give it another go I may have to shoot for the same initial placement. The idea of randomization in order to promote replay value was a good insight, but as time consuming as the game is, I worry that it undoes itself in the end.
